Eugene Fischer
Fort Lauderdale, FL (USA)
Role(s):
Founder/Owner/Principal
Nue Trucks
Find More Startups
Startup
Location:
Fort Lauderdale
Industry:
Transportation
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
Highway trucks (tractor/trailers) are the principle means of commercial land transportation in the U.S. There are more than 3,000,000 rigs on the highways at any given time. A new top of the line Peterbilt or Kenworth costs about $160,000. With new environmental requirements they get about 6 mpg. Nue trucks will offer totally rebuilt units for half this price, $80,000, with full factory warranties on engines and transmissions (300,000 miles). Neu trucks will use preapproved repair whops and factory approved engine and transmission shops. Pre-agreed to repurchase agreements will be given the trucker-purchaser based on established amortization/maintenance schedules should the trucker wish to sell his rebuilt unit at any given time. Gas mileage on these Neu Trucks will be about 25% higher than on new units in that they will be grandfathered in without new mileage robbing environmental controls. Financing of the units will be through arrangements with major financial companies such as GE Credit. Neu Trucks will make a profit of from 40-50 percent on the sale of the trucks, will participate in some sharing of the interest on sold units and will assist purchasers in freight contracts making brokerage fees. After a start up period of from 90 to 120 days Neu Trucks projects selling 5 rebuilt units per month for the first two years of operations. Personnel, including principals will be experienced truck people. There presently are truck rebuilding operations as well as engine and transmission operations but there is no operation such as Neu Trucks envisions. The industry is ripe for such an operation.